Gindi Sells Off Forsyth County Apartment Community

Gindi Equities sold the Lindsey Manor Apartments, a 222-unit multifamily community at 472 Lindsey Street in Kernersville, North Carolina, for $34 million, or approximately $153,000 per apartment.  

The company says it’s the largest residential transaction of the year in Forsyth County, which encompasses the City of Winston-Salem and a number of rapidly expanding towns, including Kernersville. Acquired by Gindi Equities in October 2021 for $24.5 million, Lindsey Manor features a mix of one- two- and three-bedroom apartments conveniently located near downtown Kernersville.  

Gindi Equities completed a series of capital improvements to enhance the property, including apartment interior renovations, a full reroofing, a new dog park and grilling area, and upgrades to the pool and playground.  

In September, Gindi Equities sold Greenview Meadows in Gastonia, for $14.5 million. Gindi acquired the 109-unit multifamily community in February 2021 for $10 million.